Auditing Standard ASA 2023-1 Amendments to Australian Auditing Standards
Amendments to ASA 510Amendments to ASA 510
Start here
Get a plain-English read of Amendments to ASA 510
Turn the raw legal text into a practical explanation grounded in Auditing Standard ASA 2023-1 Amendments to Australian Auditing Standards.
Amendments to ASA 510
Amendments to ASA 510 Appendix 1: Illustration 1 and [Aus] Illustration 2A
- Illustration 1: An auditor’s report containing a qualified opinion due to the inability of the auditor to obtain sufficient appropriate audit evidence regarding opening balances—the financial report is not prepared under the Corporations Act 2001, is amended to read as follows:
INDEPENDENT AUDITOR’S REPORT
…
Qualified Opinion
We have audited the financial report of ABC Entity (the Entity), which comprises the statement of financial position as at 30 June 20X1, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information a summary of significant accounting policies, and the declaration by those charged with governance.*
…
- [Aus] Illustration 2A: An auditor’s report containing a qualified opinion due to the inability of the auditor to obtain sufficient appropriate audit evidence regarding opening balances—the financial report is prepared under the Corporations Act 2001, is amended to read as follows:
INDEPENDENT AUDITOR’S REPORT
…
Qualified Opinion
We have audited the financial report of ABC Company Ltd., (the Company), which comprises the statement of financial position as at 30 June 20X1, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information a summary of significant accounting policies, and the directors’ declaration.
…